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Trending ETFs

Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Arrow DWA Tactical: Macro ETF

DWAT | Active ETF

$10.97

$2.19 M

0.48%

$0.05

5.39%

Vitals

YTD Return

7.5%

1 yr return

10.5%

3 Yr Avg Return

5.1%

5 Yr Avg Return

6.8%

Net Assets

$2.19 M

Holdings in Top 10

100.7%

52 WEEK LOW AND HIGH

$11.0
$9.20
$11.04

Expenses

OPERATING FEES

Expense Ratio 5.39%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 137.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 05/21/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Arrow DWA Tactical: Macro ETF

DWAT | Active ETF

$10.97

$2.19 M

0.48%

$0.05

5.39%

DWAT - Profile

Distributions

  • YTD Total Return 7.5%
  • 3 Yr Annualized Total Return 5.1%
  • 5 Yr Annualized Total Return 6.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.52%
DIVIDENDS
  • Dividend Yield 0.5%
  • Dividend Distribution Frequency None

Fund Details

  • Legal Name
    Arrow DWA Tactical: Macro ETF
  • Fund Family Name
    Arrow Funds
  • Inception Date
    Sep 30, 2014
  • Shares Outstanding
    300000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jonathan Guyer

Fund Description

The Fund primarily invests in other exchange traded funds (“ETFs”) that invest primarily in domestic and foreign (including emerging markets) (i) equity securities of any market capitalization, (ii) fixed-income securities of any credit quality, or (iii) alternative assets. In addition, the Fund may invest in commodity futures through a wholly-owned and controlled Cayman subsidiary (the “Tactical Subsidiary”). The Fund defines equity securities to be exchange traded common and preferred stocks; defines fixed-income securities to be bonds, notes, debentures or similar instruments; and defines alternative assets to be investments that are historically uncorrelated to either equity or fixed income investments.

Alternative assets include, commodity futures, commodities, exchange traded master limited partnerships (“MLPs”), real estate-related securities (including foreign and domestic exchange traded real estate investment trusts (“REITs”), exchange traded real estate operating companies (“REOCs”) or similar instruments), and U.S. exchange traded funds that invest in bitcoin futures (collectively, “Bitcoin ETFs”). The Fund does not make direct investments in Bitcoin and limits its investments in Bitcoin to ETFs that invest in Bitcoin futures. The Fund may invest up to 10% of its assets in such Bitcoin ETFs.

The Fund’s fixed income securities may be rated below investment grade (rated BB+ or lower by Standard & Poor’s Ratings Services (“S&P”) or comparably rated by another nationally recognized statistical rating organization (“NRSRO”)), also known as “high-yield” or “junk” bonds, and in unrated debt securities determined by the Advisor to be of comparable quality.

The Fund is a “fund of funds,” which means that it primarily invests in ETFs; however, when appropriate, the Advisor may elect to invest directly in the types of securities described above (other than commodities). The Fund may also invest in other investment companies (including affiliated funds).

The Advisor allocates the Fund’s portfolio using research from Dorsey Wright & Associates (“DWA”), which comes from the DWA Global Macro investment model (the “DWA Global Macro model”), as well as the Advisor’s proprietary methodology. The DWA Global Macro model is based on a technical analysis of historical price and return forecasts. Technical analysis is the method of evaluating securities by analyzing statistics generated by market activity, such as past prices and trading volume, in an effort to determine probable future prices. The Advisor buys securities and derivatives that it believes will produce returns that are highly correlated to the returns of the components of the DWA Global Macro model. The Advisor sells securities and derivatives to purchase other securities and derivatives that it believes will have higher returns or more closely correlate to the returns of the components of the DWA Global Macro model. The Fund invests in securities without restriction as to capitalization, credit quality or country.

Under normal market conditions, the Fund invests:

· From 0% to 100% of its assets in ETFs that invest in equity securities;
· From 0% to 100% of its assets in ETFs that invest in fixed-income securities; and
· From 0% up to 90% of its assets in ETFs that invest in alternative assets.

The Fund may invest up to 25% of its total assets in the Tactical Subsidiary. The Tactical Subsidiary invests primarily in commodity futures, as well as fixed-income securities and cash equivalents, which are intended to serve as margin or collateral for the Tactical Subsidiary’s investments in commodity futures. When viewed on a consolidated basis, the Tactical Subsidiary is subject to the same investment restrictions as the Fund. The Fund consolidates the Tactical Subsidiary for purposes of financial statements, leverage and concentration. The Advisor is solely responsible for managing the assets of the Tactical Subsidiary.

The Fund invests in ETFs within specific asset classes when the research provided by DWA indicates a high probability that the applicable asset classes and ETFs are likely to outperform the applicable universe. The Fund sells interests or reduces investment exposure among an asset class or ETF when the research provided by DWA indicates that such asset class or ETF is likely to underperform the applicable universe. The Fund may invest more heavily in fixed-income ETFs, cash positions and similar securities when the research provided by DWA indicates these assets should significantly outperform the equity and/or alternative asset classes.

In general, the Fund’s investments in equity securities are intended to achieve the capital appreciation component of the Fund’s investment objectives. At times, the Fund may invest in fixed-income securities in order to achieve the capital preservation component of the Fund’s investment objectives. The Fund’s investments in alternative assets are intended to enable the portfolio to be less reliant on fixed-income investments for reducing volatility and equities for increasing returns. The Advisor may engage in frequent buying and selling of portfolio securities to achieve the Fund’s investment objectives. The Fund does not invest in options or swaps.

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DWAT - Performance

Return Ranking - Trailing

Period DWAT Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -2.4% 18.1% 24.66%
1 Yr 10.5% -2.3% 51.5% 62.39%
3 Yr 5.1%* -21.2% 11.0% 10.60%
5 Yr 6.8%* -11.8% 21.8% 26.60%
10 Yr N/A* -4.4% 10.0% 47.02%

* Annualized

Return Ranking - Calendar

Period DWAT Return Category Return Low Category Return High Rank in Category (%)
2023 -2.1% -18.9% 60.2% 94.95%
2022 -6.3% -48.5% 0.1% 2.76%
2021 -8.3% -19.0% 48.3% 89.35%
2020 8.9% -16.5% 52.8% 22.82%
2019 12.6% -8.5% 27.3% 37.31%

Total Return Ranking - Trailing

Period DWAT Return Category Return Low Category Return High Rank in Category (%)
YTD 7.5% -2.4% 18.1% 24.66%
1 Yr 10.5% -2.3% 51.5% 62.39%
3 Yr 5.1%* -21.2% 11.0% 10.60%
5 Yr 6.8%* -11.8% 21.8% 26.60%
10 Yr N/A* -4.4% 10.0% N/A

* Annualized

Total Return Ranking - Calendar

Period DWAT Return Category Return Low Category Return High Rank in Category (%)
2023 -1.6% -11.7% 61.8% 98.17%
2022 0.2% -48.5% 4.6% 3.23%
2021 14.1% -14.2% 48.3% 31.94%
2020 8.9% -11.7% 77.4% 47.57%
2019 16.0% -3.9% 28.4% 31.34%

DWAT - Holdings

Concentration Analysis

DWAT Category Low Category High DWAT % Rank
Net Assets 2.19 M 1.98 M 13.3 B 99.54%
Number of Holdings 12 2 1954 91.78%
Net Assets in Top 10 2.06 M 1.16 M 10.4 B 99.09%
Weighting of Top 10 100.67% 0.4% 120.6% 5.94%

Top 10 Holdings

  1. ISHARES MSCI USA 11.53%
  2. INVESCO SP 500 PURE VALU 11.33%
  3. TECHNOLOGY SELECT SECT SP 11.08%
  4. ISHARES SP 500 GROWTH ET 11.03%
  5. INDUSTRIAL SELECT SECT SP 10.88%
  6. CONSUMER DISCRETIONARY SE 10.00%
  7. ISHARES MSCI JAPAN ETF 9.60%
  8. VANGUARD MID-CAP GROWTH E 9.55%
  9. ISHARES MSCI USA 8.41%
  10. ISHARES LATIN AMERICA 40 7.26%

Asset Allocation

Weighting Return Low Return High DWAT % Rank
Stocks
100.67% 0.00% 137.56% 3.65%
Preferred Stocks
0.00% 0.00% 5.36% 99.54%
Convertible Bonds
0.00% 0.00% 8.92% 100.00%
Cash
0.00% -33.22% 99.05% 98.17%
Bonds
0.00% 0.00% 106.59% 100.00%
Other
-0.54% -29.71% 128.17% 96.80%

Stock Sector Breakdown

Weighting Return Low Return High DWAT % Rank
Real Estate
27.85% 0.00% 99.45% 8.11%
Energy
21.09% 0.00% 60.89% 11.35%
Utilities
18.55% 0.00% 91.12% 3.78%
Financial Services
18.28% 0.00% 98.22% 14.05%
Consumer Defense
3.27% 0.00% 37.51% 80.54%
Healthcare
2.88% 0.00% 38.63% 87.57%
Technology
2.50% 0.00% 85.77% 89.73%
Consumer Cyclical
1.76% 0.00% 25.83% 86.49%
Industrials
1.72% 0.00% 23.85% 86.49%
Communication Services
1.21% 0.00% 21.61% 75.68%
Basic Materials
0.88% 0.00% 56.73% 87.57%

Stock Geographic Breakdown

Weighting Return Low Return High DWAT % Rank
US
100.67% 0.00% 137.56% 3.65%
Non US
0.00% -1.94% 41.50% 99.09%

DWAT - Expenses

Operational Fees

DWAT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 5.39% 0.49% 10.24% 1.83%
Management Fee 0.90% 0.00% 1.50% 57.08%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.05% 0.70% 15.52%

Sales Fees

DWAT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DWAT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.50% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DWAT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 137.00% 1.75% 441.00% 59.66%

DWAT - Distributions

Dividend Yield Analysis

DWAT Category Low Category High DWAT % Rank
Dividend Yield 0.48% 0.00% 24.95% 74.89%

Dividend Distribution Analysis

DWAT Category Low Category High Category Mod
Dividend Distribution Frequency None Annual Annual Annual

Net Income Ratio Analysis

DWAT Category Low Category High DWAT % Rank
Net Income Ratio -0.52% -2.01% 13.72% 76.26%

Capital Gain Distribution Analysis

DWAT Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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DWAT - Fund Manager Analysis

Managers

Jonathan Guyer


Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

Jonathan Guyer joined Arrow Investment Advisors, LLC in October 2013 after spending seven years with Longview Funds Management, LLC. During his tenure at Longview, he served the Principal, Director of Research and Chief Investment Officer of the firm. Mr. Guyer received a Bachelor of Science degree in Business Administration from the University of Northc Carolina - Wilmington in 1985. Mr. Guyer worked in the audit field as a seniro audit manager for commercial banks and trust companies from 1986 until 1994, when he decided to focus on investment management. From May 1995 to December 2001, Mr. Guyer was the head of the Proprietary Hedge Fund Group of Alex. Brown & Sons, Inc. ("DBAB"). From February 2001 to April 2006 Mr. Guyer was the head of the Alternative Investment Group of Legg Mason Wood Walker Incorporated ("LMWW"). Founded in 1800, Alex. Brown & Sons, Inc. was a Baltimore based investment bank acquired by Bankers Trust in 1997 and again acquired by Deutsche Bank in 1999. LMWW, also headquartered in Baltimore, MD, was a broker/dealer acquired by Citigroup Capital Markets Inc. in 2006. Mr. Guyer is a financial professional with significant, broad-based experience in alternative investments, including active portfolio management and trading, manager selection and due diligence, marketing and fund administration.

Joseph Barrato


Start Date

Tenure

Tenure Rank

Oct 01, 2014

7.67

7.7%

Joseph Barrato is a founding member of Arrow Investment Advisors, LLC. He has over 20 years of experience in the investment management industry, including six years with Rydex Investments, where he was responsible for the firm’s research and developed momentum models with the Rydex sector funds. Prior to Rydex, Mr. Barrato spent 12 years at the Federal Reserve Board of Governors, as an analyst and senior financial examiner. He holds a bachelor's degree in business administration from The George Washington University, where he majored in finance and minored in accounting. Mr. Barrato’s experience in the investment management industry gives him a strong understanding of the operational issues facing mutual funds and the regulatory framework under which investment companies must operate. Mr. Barrato has served as an Interested Trustee and the Chairman of the Board since the Trust was organized in August 2011.

Amit Gutt


Start Date

Tenure

Tenure Rank

Dec 01, 2020

1.5

1.5%

Amit Gutt, CFA has been a Portfolio Manager for the ArrowFund since June 2020. Amit joined Arrow Investment Advisors, LLC in August 2014 as an Investment Strategist. In that role, he was responsible for performing quantitative research, portfolio management and trading across multiple asset classes. Prior to joining Arrow, Amit worked as a Summer Associate in emerging markets equity research at KAUST Investment Management and as a Statistician at the United States Department of Commerce from 2009 to 2012. Amit holds a B.S. in Financial Economics from University of Maryland Baltimore County, a Master of Arts in Applied Economics from Johns Hopkins University and an MBA in Finance from the NYU Stern School of Business. Amit is also a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 33.83 6.68 13.0